Wework loses $5200/customer, lost $1.3B in H1/2019

The pattern has been established clearly with Uber. All the investors need to get paid off, so force the IPO.<p>Doesn&#x27;t matter if there is zero profit and no plans to make profit long or short term. Gotta have our exit! The exit is the only thing that matters anymore.<p>It&#x27;s appalling that the IPO market has been subverted into a blatant open air scam that our government deems perfectly legal and acceptable.<p>It&#x27;s despicable and makes me ashamed to work in tech. The whole shell game around who actually owns the shares and controls things through multiple complicated legal entities is just another huge red flag. When this all blows up the only winners will be armies of lawyers who untangle this mess.

Hate on WeWork all you like, but this is a shoddy article and a shoddy metric.<p>Their losses divided by their number of customers might equal $5,200, but that tells us roughly nothing. Maybe they have found a way to print money so they are growing aggressively?<p>I&#x27;d much rather meaningful metrics showing how awful WeWork actually is, than vanity metrics.

&gt; The company plans to lost $2.7b in 2019 overall.<p>This article is like 5 sentences. They couldn&#x27;t bother to read it twice before posting?

With Uber tightening it&#x27;s hires, the housing market slump and this... is the bubble beginning to pop?<p>All we need is for one big, big event to occur.

The $5200 customer is somewhat meaningless, because WeWork customers spend a lot more with WeWork than Uber or Chewy custotmers do. Would be more interesting to see as a percentage.

WeWork is a real estate investment company masquerading as a work space company. As long as real estate continues to provide big returns, I don&#x27;t think Wework will ever care about losing money on customers.<p>Big money is investing in WeWork because its set up to swallow real estate all over the world. If you had buckets of cash and wanted to do this yourself, it would be really difficult and time consuming.

Good. We don&#x27;t need businesses like WeWork, we need non-for-profit collectives and incubators

The We Company got inflated financial model.<p>However, the mentioned metric dollars lost per customer is a vanity metric. It does not mean much. E.g. Wework earns several times more than Uber per customer. It seems there are more upfront cost to fitout the new office vs. find a driver contractor.